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Public-Private Partnership Signs MOU to Create Ocean Forests for Climate Change Response

  • Date

    2026.08.25.

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    18

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Public-Private Partnership Signs MOU to Create Ocean Forests for Climate Change Response
- Promoting the Construction of a Public-Private Cooperative Ocean Forest in Waters near Deokmyeong-ri, Goseong-gun, Gyeongnam

The Ministry of Oceans and Fisheries (Minister Hwang Jong-woo; MOF) announced that four organizations, including LG Electronics, will sign a Memorandum of Understanding (MOU) on Thursday, August 20, to promote the creation of ocean forests through public-private cooperation*. The signing ceremony will be attended by key figures including Choi Hyun-ho, Deputy Minister for Fisheries Policy Office at MOF; Choi Seong-bong, Senior Vice President of LG Electronics; Park Il-woong, Vice Governor for Administrative Affairs of Gyeongsangnam-do Province; and Kim Jong-deok, President of the Korea Fisheries Resources Agency (FIRA).

* Participating Entities: Government (MOF) / Private Sector (LG Electronics) / Local Government (Gyeongsangnam-do) / Public Institution (FIRA)

Under this agreement, the four organizations agreed to join forces to:

- Increase fishery resources, secure biodiversity, and achieve carbon neutrality

- Preserve healthy marine ecosystems and promote Environmental, Social, and Governance (ESG) management

- Strive toward obtaining international certification for seaweed as a carbon sink

Based on this MOU, the Ministry of Oceans and Fisheries and LG Electronics plan to invest a total of 1.3 billion KRW (650 million KRW each) from next year through 2029 to create a 1.5 ㎢ ocean forest* in the waters off Deokmyeong-ri, Goseong-gun.

* Ocean Forest Construction Activities: Scouring rock surfaces to clean off impurities and help seaweed spores attach easily, transplanting seaweed, installing seaweed spore diffusion facilities, and removing sea urchins that feed on seaweed.

In addition, the Korea Fisheries Resources Agency (FIRA) will be responsible for project execution and management. Gyeongsangnam-do Province will provide follow-up management?including periodic field inspections and seaweed maintenance after completion?to ensure the ecosystem remains stably maintained.

Choi Hyun-ho, Deputy Minister for Fisheries Policy Office at the Ministry of Oceans and Fisheries, said, "This collaboration will serve as an exemplary win-win case where the central government, private sector, and public institutions unite to preserve marine ecosystems and actively respond to climate change." He added, "We will continue to work to expand opportunities for more companies to participate in ocean forest creation projects in the future."
 
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